Demand Forecasting

COVID-19 has created a fundamental change in the restaurant industry as more businesses invest in technology to navigate these uncertain… — COVID-19 has created a fundamental change in the restaurant industry as more businesses invest in technology to navigate these uncertain times. Fluctuations in sales have led to both overstocking and understocking ingredients, making it more difficult for the restaurant to prepare ahead of time in the most efficient and sustainable…

The recent IPCC (Intergovernmental Panel on Climate Change) is projecting a code red for humanity. This edit is to see some of the facts… — The recent IPCC (Intergovernmental Panel on Climate Change) is projecting a code red for humanity. This edit is to see some of the facts from the report. In addition, take a look at what actions can we take to prevent climate disaster. …

What you are missing out on from not utilizing Ikigai — by Ryan Kang The Common Struggle. We live in an era where data is at the core of operations for any organization. As the organization scales, so does the data itself, along with the corresponding data pipelines as well as the data stores (now also called lakes), and managing them…

David Hoyle, Price & Promotion Science, dunnhumby — David Hoyle, Price & Promotion Science, dunnhumby Why use a Probabilistic Programming Language? Let’s imagine you want to create a predictive model, but your problem is somewhat unusual. You can write the problem down on paper in a succinct mathematical form, but you find there is no existing package or module that has algorithms for estimating…

If you’ve ever looked at a weather forecast, you’ll know that the task of predicting the future is an inherently difficult one. Yet as a… — If you’ve ever looked at a weather forecast, you’ll know that the task of predicting the future is an inherently difficult one. Yet as a small business, you’re expected to generate an inventory forecast. So how do you do it accurately? In 1987, BBC meteorologist, Michael Fish, infamously downplayed the…

Overview — Overview Shock events impact and at the basic level change organizations across dimensions such as demand forecasting, distribution, and new product introductions. Demand forecasting is key to a waste-less supply chain performance. Yet, fashion demand forecasting accurately has always been challenging for businesses, in particular lifestyle brands and retailers. …

When it comes to moving stock and inventory control, the pace of change is so rapid, it can be hard to keep up. — When it comes to moving stock and inventory control, the pace of change is so rapid, it can be hard to keep up. As your business grows, you might be shipping more than you did 12 months ago, but the amount of time you have to do it stays the…

Accurate forecasts are the bedrock of most successful businesses. Forecasts give you a clearer picture of the future, and these pictures… — Accurate forecasts are the bedrock of most successful businesses. Forecasts give you a clearer picture of the future, and these pictures allow you to create an effective plan. But forecasts come in many forms. Today, we’re dealing with demand forecasting, covering what it is, why it’s important, and how it…